Modern globalization has been an over two-hundred-year process that emerged with the near laissez-faire freeing of trade and commerce from government protectionism and control as part of the liberal movement in the first half of the nineteenth century, especially in Great Britain. It stands in contrast to both the economic nationalism and collectivism of the first half of the twentieth century and the renewed freeing of trade in the post-World War II period. Nineteenth-century liberal globalization presumed that the greatest freedom and economic prosperity would arise by allowing an increasingly world-wide free market to determine what was produced, how, where, and by whom. Globalization since 1945 has, instead, involved intergovernmental direction and influence of world trade patterns and forms that has created potentials for political and special interest frictions and conflicts that had not marked to the same extent the earlier liberal globalizing trends of the nineteenth century. The issue for the twenty-first century is what type of globalization—liberal or managed—would best serve freedom and prosperity for the world.